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& k4 j1 O# Z% }1 G5 Q0 e" ]+ p6 h0 rBelow is an Interesting article I found, which says that.....Do not
0 C7 Z8 t6 V" E Iexpect much from Crude Oil producers and future is not with the " J" D# g% T4 ?) b2 m( v! o. S
companies producing Jet fuels but Biofuels. Also no wonder if some of
) F+ ^' k9 D% ~2 Z6 }0 W9 n r% ]these oil producer will go bankrupt or out of the business even if
& s5 e7 \$ G6 B6 ]5 x# ~crude prices improves. This implies also to good names such as Shell,
: d% @" Y4 B) J0 x3 [: l$ m2 lEXXON, BG, BP, Cheveron ....xyz.. oils
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# j: |4 Y' |+ ^Recently OPEC reduced crude oil production twice over just a few
' A! d0 M0 g. s% I I9 r0 a ~$ lmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
8 s' H( O5 I: w8 V4 {5 D8 mA year ago these things would have spiked the price of crude oil by at 3 j$ u+ u9 @8 F6 b4 i$ O" H
least $50.00 per barrel. Today, oil price declined by a record amount. - I9 v4 n' y" n$ I# c, _* J+ w
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2 m' v r: L: S x1 [/ R+ jThere are several reasons the price of oil is decreasing in the face # `* _ k( ]3 ^+ s, g' L
of so much news. These reasons are: 7 @$ v- s [, ], o7 V! \
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1. New oil has been found in Canada, Montana, North & South Dakota and ]: ~& Q4 ?- ~; \2 s2 q
in the ocean near Brazil. Each of these oil fields has more oil than
% }. i- w: w. E; N/ O* JArabia. . n+ N$ Z6 g+ k% ^: K; d* g
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2. New natural gas has been found in Pennsylvania and West Virginia.
" U' ^( Q0 l9 EThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
- J+ }; p3 A; |) r4 E& Mbeing used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio
; o% Q$ q8 h" b% }' jfuel is being produced from many plants and algae. The production $ w% f+ K* w+ V; N4 J- B0 u8 b
potential per acre in some cases is astounding. Many countries are 6 f+ K/ a! C# n3 _7 T" k2 G6 B
racing to produce bio fuels. ! J. b) r1 W/ ]. I
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- A4 z1 g) V& k- q1 j0 c5. Virtually every restaurant in the US and all food processing plants
5 f; d+ Y1 Q# T: i# e; uare now selling their used oil to bio-diesel producers. Every pork, . D" q0 m) U4 O* U* @2 }
cattle, turkey and chicken processing plant will soon sell their fat
8 h) X) A1 X: l- fto bio-diesel producers. One pork processing plant in Oklahoma is ; h) d8 x1 E, \; f l1 F% }
producing 30,000 gallons of bio-diesel per day from pork fat.
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5 o5 J( W- o9 w0 k& x* F2 X6. There are 99 nuclear reactors in various stages of planning and
9 Z! h, u" n7 h# q( L: bconstruction around the world at this time. Several hundred more are
4 [% @1 Q1 Z' sexpected to be built in the future. Much of the energy they produce
; E6 ^% E, c: p$ [% W, zwill replace oil.
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/ K& A) } i* p! S. e7. Every company in any form of transportaion business is replacing
& H! B9 p/ b( V( W( p4 ?older equipment such as trucks, airplanes, train engines, ships, etc.
7 }" z% R2 f7 Ewith new more fuel efficient equipment. Airlines and railway companies
% j% R. E7 Z. g4 d5 Fare experiencing 20% to 25% better fuel econony with the new * W) W% w5 n2 `$ j
equipment. 9 X r/ p$ v- Z) V
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8 O! J" m3 ~2 J) I- Y E2 F5 IAirlines are flying airplanes with bio-fuel. They are finding the bio-
& M ]+ t7 k" rfuel is cleaner and performs better than jet fuel. + I9 w5 H# }# q
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9 I4 u2 h+ w% R1 J$ U1 T6 Y' j8. Cities and counties throughout the US are selling the rights to 1 r* n7 L+ D% ?# |+ U. l
capture methane gas from landfills. This is a huge source of gas
" a. I0 ~& K# A9 t8 S! pavailable at very little cost or risk. The gas is displacing crude
6 K8 Q5 R* b. R0 Xoil.
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( [% @) g! I- }9. Coal is being transformed into a clean burning liquid fuel. The CO2 % T1 `- H9 R- b1 B* a
produced as a byproduct is sold to oil companies for injection into
9 L: R' v- y, r& coil wells. * z( x8 A; @' y# a$ ^! h( v
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. G3 a7 F o1 G. M10. Solar, wind and ocean energy is displacing oil as an energy
* _" B4 A. N8 X& N8 l) \! J$ ?source. Three new wind turbines are being erected every day in the US.
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6 R9 {9 C8 ?' k- P8 s+ BEach of the above by itself will not make a large difference in the ( b& g; j% {9 |. F& ^8 c* r; d
price of crude oil but the sum of all of them together is world
! }$ H8 Q6 c; n, w) ]3 ~8 A6 P/ dchanging. The important thing is that OPEC no longer has the ability
( }9 ?: p3 M* E- V- ]0 cto control oil prices.
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With the above scenario, I still believe that there are under
7 b* Q, ^* F |performed OIL companies and probably they are yet to get the justified
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IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN $ e* D. P6 Y" ]: A5 Y
2009 ... FYI-Only |
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